In brief
Bitcoin responsible for CBDCs
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$118,457.00
0.32%$3,673.06
-0.50%$3.47
-0.42%$794.60
4.64%$199.38
0.10%$0.999905
0.00%$0.259321
-3.05%$3,657.98
-0.85%$0.868923
-1.00%$0.317987
2.05%$118,121.00
-0.07%$44.11
0.52%$0.4691
2.14%$4,450.31
-0.30%$3.94
1.11%$19.15
-0.29%$3,939.27
-0.96%$0.269017
1.10%$25.31
-2.02%$3,927.96
-0.69%$525.32
0.44%$117.34
1.18%$0.00001497
-1.43%$8.98
-0.10%$3.30
1.42%$3,669.11
-0.83%$0.999907
-0.02%$4.45
0.89%$1.001
0.07%$1.00
-0.01%$118,329.00
0.18%$44.34
-0.19%$10.52
0.76%$326.13
1.36%$0.00001397
0.98%$4.80
-0.13%$302.32
-2.87%$443.21
3.31%$0.126004
2.92%$1.18
0.03%$2.96
0.66%$23.74
0.35%$5.52
4.37%$0.464077
-4.68%$1.10
3.71%$242.89
0.02%$5.97
0.86%$0.474233
-4.16%$49.28
2.05%$0.110885
-2.77%$0.83321
5.80%$0.04407588
18.18%$0.00003488
2.62%$0.286859
-0.80%$1.00
0.00%$0.466167
-0.44%$0.02737812
-0.23%$4.49
1.91%$1.30
8.10%$5.03
-0.38%$0.248215
-1.00%$3,676.43
-0.50%$0.999956
-0.04%$10.84
0.16%$17.86
1.99%$0.788137
-2.52%$212.52
0.26%$0.34243
-0.08%$2.86
0.55%$4.49
-0.15%$129.46
-1.65%$0.02631488
23.39%$0.606591
-5.50%$1.06
0.02%$1.93
5.25%$0.084068
-3.91%$3,842.49
-0.71%$4,183.72
-0.70%$118,043.00
0.27%$5.19
0.01%$1.60
2.88%$0.09523
1.12%$2.13
-0.29%$12.04
-0.44%$4.94
4.17%$0.99983
0.01%$14.83
0.96%$0.997687
0.09%$1.027
8.88%$0.00014689
4.12%$3,856.47
-0.82%$0.864222
0.78%$3,926.37
-0.89%$0.998889
-0.23%$0.767479
0.25%$0.00378406
1.17%$1.33
-0.70%$3,983.16
-0.29%$1.00
-0.01%$1.28
4.62%$3,873.79
-0.17%$1.88
2.53%$118,054.00
0.13%$0.372777
-2.04%$224.15
0.36%$0.627286
1.01%$0.110493
-0.75%$1.17
-0.08%$0.177594
1.78%$795.41
4.65%$0.999047
-0.06%$0.943117
-2.73%$2.88
8.08%$261.50
0.22%$0.981341
4.92%$0.02019283
5.92%$3,424.77
1.03%$0.608557
2.86%$28.52
5.57%$117,880.00
-0.04%$119,008.00
0.31%$0.348333
15.70%$1.11
0.11%$0.01979252
1.14%$0.173931
-17.14%$3.31
-0.61%$0.225317
-2.50%$0.999809
0.00%$3,418.60
1.00%$0.333625
-0.08%$0.141645
-2.13%$0.945665
-1.06%$9.97
-0.62%$3,696.36
0.34%$3,937.94
-0.45%$3,889.29
0.61%$4.71
6.93%$2.15
-2.31%$3,680.84
-0.16%$0.00000072
0.93%$111.89
0.01%$0.440911
1.48%$0.422051
5.55%$43.10
-0.57%$3.72
-1.59%$1.09
-0.10%$0.999
0.12%$0.261721
-1.98%$0.3486
1.40%$117,921.00
-0.00%$0.00000167
9.11%$0.999946
-0.00%$0.471442
2.70%$0.064695
4.96%$3,697.69
-0.00%$1.97
1.36%$0.01842172
-4.83%$0.00671631
5.26%$0.00876371
2.12%$30.01
-0.19%$0.592821
0.82%$0.997656
-0.01%$0.723556
1.01%$3,899.53
-0.47%$1.61
-1.20%$118,287.00
0.10%$0.00947188
1.53%$0.553172
4.63%$118,014.00
1.29%$0.454016
-1.08%$44.05
0.44%$1.00
0.04%$0.999959
0.00%$4,072.00
-0.29%$3,669.05
-0.83%$0.073259
-0.14%$1.24
-3.74%$7.97
-3.45%$0.1438
-1.71%$18.21
4.59%$0.68516
2.50%$7.20
0.11%$53.05
3.33%$0.998422
0.04%$0.192878
0.36%$3,961.13
-0.92%$1.16
-0.01%$2.84
2.26%$0.00002373
-0.33%$0.181269
-1.42%$0.432122
1.73%$0.426602
-5.22%$0.00000046
1.23%$0.00877858
2.20%$1.43
-3.34%$4,445.89
-0.45%$0.04570373
2.09%$0.976705
3.75%$3,679.66
-0.33%$0.210032
-1.04%$0.060437
-0.42%$0.441464
5.33%$0.308785
1.52%$0.090826
-4.52%$3,689.61
0.01%$5.14
19.41%$7.34
-1.36%$218.21
0.09%$0.999905
0.00%$43.91
0.51%$1.095
0.07%$0.998481
-0.09%$0.607823
2.62%$1.002
-0.56%$10.76
0.03%$1.46
0.42%$0.395419
2.57%$30.69
-2.59%$0.00396548
-1.59%$25.25
-2.61%$13.40
2.41%$149.16
-0.25%$1.00
0.02%$1.61
-3.45%$0.587751
0.82%$0.03860942
2.31%$0.0000682
-0.39%$0.842104
-0.33%$0.83055
7.98%$0.0054083
0.01%$0.03433885
2.56%$0.01899602
1.41%$0.248073
-0.69%$21.92
-0.46%$0.00402893
-2.58%$115,993.00
-0.61%$0.00417175
-1.52%$118,378.00
0.14%$0.83547
0.55%$0.00398875
1.75%$0.841172
-1.57%$225.77
0.45%$3.73
5.66%$0.328379
17.64%$1.11
-1.61%$3,868.03
-0.33%$4,152.79
-0.19%$7.51
-0.45%Reading
Pascal Blanque, Amundi’s chief investment officer (CIO), said in a press conference yesterday that he thinks Bitcoin is a “farce” and just a bubble, as reported by Reuters. Eventually, regulators will "stop the music,” he said.
With about $2.1 trillion assets under management (AUM) as of the end of March, Amundi is the second largest asset manager in Europe after Allianz, and among the ten largest asset managers worldwide.
In a research report shared with Newsweek yesterday, Amundi said that cryptocurrencies “cannot be considered a form of money as they are neither a proven store of value, nor a recognized unit of account and even less a universal means of payment." It added, "CCs have no real economic underlying asset and therefore there is no valuation model.
But the report noted, "a fully decentralized and disintermediated CC system could enable the development of global payment systems that are faster, cheaper and more inclusive than current payment systems.”
Another executive from traditional finance, Jeff Currie, the head of commodities at Goldman Sachs, said in an interview on Tuesday that, despite the popularity of Bitcoin’s “digital gold” narrative, the cryptocurrency is more like a “digital copper.”
Currie meant that Bitcoin, like copper, is an attractive investment when the market’s on the up but gets dumped when things go sour. That’s unlike gold or cash, which are “risk-off” assets whose value remains steady through thick and thin.
In his speech on Thursday, Blanque also reportedly said that "Bitcoin will be remembered for pushing central banks to adopt digital money.”
Central bank digital currencies (CBDCs) are digital versions of fiat currencies. They make it easier to track and analyze financial transactions, and cheaper to distribute money in times of crisis.
In a stark warning, the European Central Bank (ECB) said in a report published today that governments that opt out of introducing central bank digital currencies (CBDCs) may face threats to their financial systems and monetary autonomy. CBDCs are digital versions of fiat currencies, which in the case of the European Union, would be a digital version of its currency, the euro. They are similar to stablecoins, which are pegged at a 1:1 ratio with a particular fiat currency. The report, “The intern...
The European Central Bank said in a report on Wednesday that governments that do not introduce central bank digital currencies (CBDCs) may face threats to their financial systems and monetary autonomy.
However, unlike Blanque, the ECB doesn’t think Bitcoin is the threat—but rather “foreign tech giants potentially offering artificial currencies in the future.”
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
A century-old Japanese textile company has become the latest financially battered firm to turn to Bitcoin as a treasury asset, announcing plans to purchase up to $5.4 million (800 million yen) in crypto to stabilize its bottom line after years of losses and muted cash flow. Kitabo Co., Ltd., a Tokyo Stock Exchange-listed textile manufacturer that produces synthetic fibers and industrial materials, announced in a statement on Tuesday that it will begin gradually acquiring Bitcoin using dollar-cos...
Tesla’s long-awaited retro-style diner finally opened over the weekend in Los Angeles, and yes, there’s rollerskating waitstaff, rooftop seating, and a humanoid robot handing out popcorn. No, you can’t pay in Dogecoin, yet. Located near the iconic Paramount Studios, the two-story fever dream sits atop a Supercharger hub with 80 EV-only parking spaces. Part midcentury nostalgia trip, part Muskovite experiment, the diner has seating for 250 people and features two, drive-in-movie-sized LED screens...
SpaceX has moved $153 million of its Bitcoin holdings, marking its first blockchain activity in three years, according to on-chain data provider Arkham Intelligence. The aerospace company moved 1,308 BTC tokens from 16 Pay-to-Public-Key-Hash addresses to a sole SegWit-compatible Pay-to-Witness-Public-Key-Hash wallet address, the data shows. SpaceX currently has 8,285 Bitcoin, or $988.89 million worth of the token, on its balance sheet, according to data from bitcointreasuries.net. SpaceX last m...